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Valley Bank is committing $1 million to New Jersey’s Neighborhood Revitalization Tax Credit program for 2025–2026.

The latest brings the Morristown-based financial institution‘s total investment through the initiative to more than $8.5 million.

The New Jersey Department of Community Affairs administers the program. The NRTC provides tax credits to companies that fund nonprofit-led, resident-driven redevelopment efforts.

Valley’s latest round will support six projects across Warren, Passaic, Middlesex and Essex counties.

The work targets affordable housing, small business growth and economic opportunity, including:

• Norwescap: Redevelopment of a former restaurant site in Phillipsburg into a mixed-use community hub with a social enterprise component as well as housing
• New Jersey Community Development Corp.: Transforming a blighted property near the Great Falls Historic District in Paterson into housing and retail space
• Passaic County Habitat for Humanity: Expanded affordable homeownership and repair programs in Passaic County neighborhoods, along with services like ESL classes and youth programming
• Jewish Renaissance Foundation: Advancing the Perth Amboy Alliance for Community. Boosting small business support, home repairs, financial empowerment programs and more
• HANDS Inc.: Supporting various initiatives focused on housing rehabilitation, youth entrepreneurship and workforce development efforts aimed at stabilizing neighborhoods

“Through the NRTC Program, Valley continues to invest in initiatives driven by community voices and deliver meaningful, long-term impact,” said Bernadette Mueller, chief CSR-CRA officer at Valley. “We are proud to support organizations that are expanding access to housing, empowering small businesses, and creating pathways to economic opportunity across New Jersey.”